Petroleum Resource Rent Tax Assessment Act 1987

SCHEDULE 1 - PROVISIONS RELATING TO INCURRING AND TRANSFER OF EXPLORATION EXPENDITURE ON OR AFTER 1 JULY 1990  

Sections 2 , 35A , 35B , 45A , 45B and 45D

PART 5 - GENERAL RULES RELATING TO TRANSFER OF EXPLORATION EXPENDITURE  

24  

24   RULE - RESTRICTION ON TRANSFER OF STANDARD UPLIFT EXPENDITURE  
The person may not transfer the expenditure to the receiving project in relation to the transfer year if:

(a) the expenditure was incurred in a standard uplift expenditure year in relation to the receiving project; and

(b) there is other expenditure that the person could transfer to the receiving project in relation to the transfer year under section 45A ; and

(c) that other expenditure was incurred in an earlier standard uplift expenditure year in relation to the receiving project.